Key Financial Figures

  • Revenue from Operations: ₹0.00 lakh (Previous year: ₹115.81 lakh)
  • Other Income: ₹61.13 lakh (Previous year: ₹125.50 lakh)
  • Total Expenses: ₹308.74 lakh (Previous year: ₹400.88 lakh)
  • Loss Before Tax: ₹247.61 lakh (Previous year: ₹202.70 lakh)
  • Tax Expense:
  • Tax for Earlier Years: ₹(220.04) lakh
  • Current Tax: ₹458.96 lakh
  • Net Loss: ₹486.54 lakh (Previous year: ₹202.70 lakh)
  • Total Comprehensive Loss: ₹491.21 lakh (Previous year: ₹201.78 lakh)
  • Net Worth: ₹977.87 lakh (Previous year: ₹1,469.08 lakh)
  • Earnings Per Share: ₹(143.10) (Previous year: ₹(59.62))

Dates of Action

  • AGM Date: September 16, 2026 at 2:00 PM through VC/OAVM
  • E-voting Period: September 12, 2026 (9:00 AM) to September 15, 2026 (5:00 PM)
  • Cut-off Date for E-voting: September 9, 2026
  • Board Meeting Dates: 5 meetings held on May 29, 2025, June 16, 2025, August 13, 2025, November 13, 2025, and February 11, 2026
  • Financial Year: April 1, 2025 to March 31, 2026

Parties Involved

  • Statutory Auditors: M/s. Patkar & Pendse, Chartered Accountants
  • Internal Auditor: M/s. Sandesh Kadam & Associates, Chartered Accountant
  • Secretarial Auditor: M/s. S. R. Padhye & Co., Practicing Company Secretary
  • Registrar & Share Transfer Agent: Purva Sharegistry (India) Private Limited
  • Bankers: Bank of Baroda, State Bank of India
  • Scrutinizer: CS Sandhya Malhotra, M/s. Manish Ghia & Associates

Director Re-appointments Proposed

1. Mr. Nihal Doshi (DIN: 00246749) - Re-appointment as Executive Director for 3 years from January 1, 2027 to December 31, 2029 at remuneration of ₹30 lakh per annum

2. Mr. Rajiv Jain (DIN: 09044822) - Re-appointment as Independent Director for second term from September 16, 2026 to February 3, 2031

3. Mr. Subodh Mawalankar (DIN: 09484724) - Re-appointment as Independent Director for second term from February 11, 2027 to February 10, 2032

Financial and Operational Impact

  • Manufacturing operations suspended since FY 2024-25 following sale of confectionery trademarks, recipes, and associated IP rights to Reliance Consumer Products Limited in March 2024
  • No dividend recommended due to losses incurred during the year
  • Company evaluating alternative uses for manufacturing and ancillary assets
  • Going concern basis maintained despite losses due to robust net worth of ₹977.87 lakh

Capital Structure Impact

  • Authorized Share Capital: ₹600 lakh (3 lakh preference shares of ₹100 each + 30 lakh equity shares of ₹10 each)
  • Issued, Subscribed and Paid-up Capital: ₹34 lakh (3.4 lakh equity shares of ₹10 each)
  • No change in share capital during the year

Cash Flow Implications

  • Net Cash Flow from Operating Activities: ₹(246.24) lakh
  • Net Cash Flow from Investing Activities: ₹1.74 lakh
  • Net Cash Flow from Financing Activities: ₹236.95 lakh
  • Cash and Cash Equivalents at year-end: ₹19.63 lakh (Previous year: ₹27.17 lakh)

Contingent Liabilities and Legal Disputes

1. Gratuity Payment Dispute: ₹62.10 lakh demand for gratuity payments to 21 former seasonal workers (case pending before Industrial Court, Nashik)

2. Gram Panchayat Tax Demand: ₹278.93 lakh property tax demand from Gram Panchayat, Ravalgaon (appeal pending)

3. Water Usage Charges: ₹15.80 lakh dispute with Water Resources Department, Government of Maharashtra

4. Electricity Duty: ₹76.33 lakh demand following Supreme Court order dated March 25, 2026 (Review Petition filed)

5. PF on Contract Labor: ₹140.00 lakh demand pending with Employee Provident Fund Appellate Tribunal

Internal Financial Controls

The Board has implemented comprehensive policies and procedures for internal financial controls which were found to be adequate and operating effectively by the auditors.